| Selected quarterly financial data (unaudited) |
14. Selected quarterly financial data (unaudited)
The following tables set forth the Company’s unaudited quarterly results of operations for each of the quarters in fiscal 2011 and
fiscal 2010. The Company uses a 13 week fiscal quarter ending on the last Saturday of the quarter.
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2011 |
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2010 |
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First |
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Second |
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Third |
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Fourth |
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First |
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Second |
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Third |
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Fourth |
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Net sales
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$ |
386,006 |
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$ |
394,567 |
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$ |
413,067 |
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$ |
582,511 |
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$ |
320,196 |
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$ |
321,804 |
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$ |
339,179 |
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$ |
473,659 |
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Cost of sales
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251,101 |
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260,280 |
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263,884 |
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384,046 |
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215,661 |
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217,846 |
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220,273 |
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316,973 |
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Gross profit
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134,905 |
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134,287 |
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149,183 |
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198,465 |
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104,535 |
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103,958 |
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118,906 |
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156,686 |
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Selling, general and administrative expenses
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94,615 |
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90,811 |
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100,997 |
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124,235 |
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80,729 |
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79,909 |
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90,309 |
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107,159 |
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Pre-opening expenses
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1,230 |
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3,816 |
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3,958 |
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983 |
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474 |
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1,793 |
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4,305 |
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523 |
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Operating income
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39,060 |
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39,660 |
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44,228 |
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73,247 |
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23,332 |
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22,256 |
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24,292 |
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49,004 |
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Interest expense
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173 |
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147 |
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176 |
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91 |
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118 |
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214 |
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244 |
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179 |
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Income before income taxes
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38,887 |
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39,513 |
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44,052 |
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73,156 |
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23,214 |
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22,042 |
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24,048 |
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48,825 |
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Income tax expense
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15,591 |
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15,608 |
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17,284 |
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26,861 |
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9,553 |
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8,980 |
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9,845 |
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18,721 |
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Net income
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$ |
23,296 |
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$ |
23,905 |
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$ |
26,768 |
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$ |
46,295 |
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$ |
13,661 |
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$ |
13,062 |
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$ |
14,203 |
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$ |
30,104 |
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Net income per common share:
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Basic
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$ |
0.38 |
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$ |
0.39 |
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$ |
0.44 |
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$ |
0.75 |
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$ |
0.23 |
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$ |
0.22 |
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$ |
0.24 |
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$ |
0.50 |
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Diluted
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$ |
0.37 |
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$ |
0.38 |
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$ |
0.42 |
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$ |
0.73 |
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$ |
0.23 |
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$ |
0.22 |
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$ |
0.23 |
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$ |
0.49 |
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The sum of the quarterly net income per common share may not equal the annual total due to quarterly changes in the weighted average
shares and share equivalents outstanding.
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